MortgageExplain the term mortgage?what are the rights of a mortgager and a mortgagee.

Question

Mortgage

Explain the term mortgage?

what are the rights of a mortgager and a mortgagee.

Answer

Re: Mortgage

Hi:

Generally in a mortgage there is a specific time and manner for payment which is the mortgagee's responsibility. There is many times a provision for the mortgagee to keep the property insured,and in good condition. The mortgage itself is the security interest for a debt that is owed by the mortgage..Hope this helps!